Enquiries and Requests

Banks may freeze/close customers accounts when they find that the customers are in breach of the terms and conditions (T&C) governing the banking account, after necessary due diligence has been conducted by the respective bank.

Possible reasons for the freezing/closure of a banking account, are as follows:

• Insolvency matters
• A direction/instruction issued by the relevant authorities;
• The bank suspects that the customer or a third party is misusing, conducting illegal or fraudulent activities through the banking account (this includes illegal deposit taking and scams);
• The bank received a court order or other legal documents prohibiting the customer's banking account from being operated.

(The above listing is non-exhaustive. Consumers MUST refer to respective bank’s general terms and conditions on the usage of banking accounts)

Consumers may also refer to the bank's Complaints Unit or Commercial Crime Investigation Department (CCID)'s Semak Mule for further information.

Yes. The bank may freeze/close customers' banking accounts in accordance with the account's terms and conditions. Nevertheless, the bank needs to notify the customers in advance prior to the closure of their accounts and refund the available funds.

You are advised to contact your bank immediately for clarification and next course of action.

The customer may appeal for account re-opening but the decision is subject to the bank’s commercial consideration, which is based on its risk management and internal policies. Bank Negara Malaysia does not intervene in such decisions.

You may refer to the bank's Complaints Unit to submit your appeal.

Please refer to the banks that you have had accounts with or you can check against CCID's Semak Mule for further information. Bank Negara Malaysia does not maintain any list of “blacklisted customers” nor has any say in the opening or closing of banking accounts.